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Foley Catheters Market

Foley Catheters Market

Foley Catheters Market Forecast, Trend Analysis & Competition Tracking - Global Review 2021 to 2031

Foley Catheters Market
FACT4654MR
  • Aug-2021
  • List of Tables : 88
  • List of Figures : 88
  • 170 Pages
  • Healthcare

Market Snapshot

During the forecast period, the global foley catheter market is expected to grow at a stable CAGR of 5.9% from 2021 to 2031. The market was valued at over 4 Bn in 2020, and is likely to expand 1.7x to reach US$ 7.1 Bn across the aforementioned forecast period.

The demand for foley catheters is mostly driven by the increased prevalence of urinary diseases. According to the American Academy of Family Physicians (AAFP), urinary retention affects 4.5 to 6.8 males per 1,000 men each year.

Foley Catheters Historical Analysis 2016-2020 vs Outlook 2021-2031

According to Fact.MR- a market research and competitive intelligence provider- the global market for foley catheters expanded at a CAGR of 5% from 2016 to 2020. Rising prevalence of urinary tract infections was the principal growth accelerator in this period.

Urinary abnormalities occur as a side effect of medication or due to various issues in a variety of medical illnesses, including spinal cord injuries, dementia, and multiple sclerosis, among others. If the severity of such problems is beyond medication's control, healthcare practitioners recommend using foley catheters for a duration ranging from days to weeks, depending on the severity.

According to Fact.MR’s study, between 2021 and 2031, the global market for foley catheters is expected to grow at a significant rate, registering a CAGR of 5.9% across the aforementioned forecast period.

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How are Numerous Innovations Spurring Foley Catheters Industry Growth?

Growing innovations in foley catheters resulting in increased patient comfort is projected to generate tailwinds to the foley catheters industry. Foley catheter demand will be fueled even more by antibacterial coatings that minimize the prevalence of catheter-associated urinary tract infections.

Furthermore, the worldwide foley catheters market is expected to benefit greatly from the rising prevalence of urine incontinence and occurrences of kidney stones.

How is Rising Prevalence of Urological Diseases Spurring Adoption?

Rising incidences of urethral obstructions, benign prostate hyperplasia, and other urinary problems caused by a poor diet, sedentary lifestyle, and lack of exercise in patients ranging from adults to the elderly.

Furthermore, the Centers for Disease Control and Prevention (CDC) estimates that 15-25 percent of hospitalized patients receive a foley catheter each year. Similarly, 5-10% of nursing home residents (about 75,000 to 150,000 people) require foley catheters.

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How will Catheterization-related Complications Impede Expansion?

The insertion and removal of insufficiently lubricated catheters can produce friction between the urethral walls and the device's surface, which is not only uncomfortable for the patient but can also lead to urethral constriction, bleeding, and infection with repeated use.

To avoid urinary tract infections (UTIs) or catheter-associated urinary tract infections, special precautions must be taken during catheterization (CAUTIs).

As a result, for the treatment of temporary incontinence, there are a variety of invasive and non-invasive therapy methods available. Given the drawbacks of catheterization, their availability is projected to limit the market for urinary catheters.

Country-wise Analysis

What Supports Increasing Foley Catheters in the U.S.?

The U.S market for foley catheters is developing rapidly due to factors such as a high prevalence of diseases, a growing geriatric population, the availability of sophisticated interventional products (including urinary catheters), and an increase in surgical procedures conducted in the region.

It is expected to reach a value of US$ 726 Mn by 2031, with a CAGR of 5.8%. According to projections put forth by Fact.MR, foley catheters revenue in the U.S surpassed 1/3rd of the global market share in 2020. The regional market is also driven by the growing occurrence of targeted diseases, such as urinary retention, bladder obstruction, benign prostatic hyperplasia and bladder cancers.

Why is Asia an Emerging Hub for Foley Catheters?

Asia is witnessing high demand for foley catheters in the market. The foley catheters market in Asia was valued at US$ 171.1 Mn in 2019 and is expected to grow at a remarkable 6.8% CAGR to reach US$ 286 Mn by 2031.

Amongst all countries, demand is expected to remain especially strong across India and China. According to a popular study, percentage of culture positive males is 37.23%, while females are 37.76% in India. Likewise, prevalence of UTIs in China surged by 27.5% in males and 27.9% in females. Hence, demand for foley catheters is rising.

Will Europe Attract Significant Investments for Foley Catheters?

Europe, which is poised to remain the second most lucrative region through the assessment period. A survey by WHO found that a significant portion of urinary infection deaths is associated with indwelling catheterization.

Indwelling catheterization extends the hospitalization of the patients, resulting in a direct cost of €2.01 Bn for National Health Services. This has instigated the need for highly effective catheters with minimal side effects.

To eliminate the deaths and cost, healthcare bodies in the region have mandated period replacement of catheters, thereby propelling demand for a higher number of units in hospitals and nursing centers. Fact.MR expects Europe to account for 40% of the global foley catheters demand.

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Category-wise Insights

Why are 2 Way Latex Adult Foley Catheters Preferred?

Adult patients benefit tremendously from a two-way foley catheter. The 2-way foley catheter is constructed of latex bonded with silicone elastomer, which minimizes the possibility of encrustation.

The urinary catheter includes a symmetrical big capacity balloon that assures a straight tip for optimal flow and good sphincter action, preventing bladder leaks. Fact.MR expects the segment to capture 3/4th of the global market share.

Why are Latex Foley Catheters in High Demand?

Latex based 2-way foley catheters are likely to account for a major chunk of the market, with Fact.MR projecting a revenue share of 90.4% by 2031, expanding at a CAGR of 5.8%.

Coated with hydrogel silicone, silicone elastomer and PTFE Teflon material, these catheters reduce urethral irritation, encrustations, lower surface friction and improve patient comfort.

Why are End Users Inclining toward Silicone Foley Catheters?

Silicone-based foley catheters are set to gain traction during the forecast period. This is attributed to their longer lifespans, large lumen diameter and reduced risk of urinary tract infections.

These catheters also have a smooth surface which reduce the risk of encrustations, as compared to latex catheters. Silicone-based catheters are expected to register an impressive CAGR of 7.2% during the forecast period.

Competitive Landscape

Prominent foley catheters manufacturers are leveraging such key strategies as introducing technologically advanced product lines, mergers and acquisitions and strategic collaborations.

  1. For instance, GentleCathTM Uncoated Intermittent Urinary Catheter from Convatec is designed to make catheter insertion and removal as painless as possible for the patient. It has polished and rounded eyelets to reduce friction and a soft, rounded tip to make insertion easier.
  2. Likewise, Romsons' Uro Cath is a two-way Foley catheter designed for adult patients. The latex-bonded silicone elastomer of the two-way foley catheter prevents encrustation.
  3. Also, customers may find Rusch EasyCath Catheters to be an excellent choice. These come in a variety of lengths, including male, female, and pediatric options. In addition, some of these uncoated catheters come with a kit of insertion equipment, making catheterization more sanitary.

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Report Scope

Attribute

Details

Market size value in 2021

USD 4 Billion

Market forecast value in 2031

USD 7.1 Billion

Growth Rate

CAGR of 5.9% from 2021-2031

Forecast Period

2021-2031

Historical Data Available for

2016-2020

Market Analysis

US$ Mn for Value & ‘000 Units for Volume

Key Regions Covered

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia
  • Oceania
  • Middle East & Africa

Key Countries Covered

  • U.S
  • Canada
  • Germany
  • U.K
  • France
  • Spain
  • Italy
  • China
  • India
  • Japan
  • Australia
  • New Zealand
  • Brazil
  • Mexico
  • GCC
  • South Africa

Key Market Segments Covered

  • Product
  • Material
  • End User
  • Region

Key Companies Profiled

  • ConvaTec Inc.
  • Becton, Dickinson and Company
  • Cardinal Health
  • B. Braun Melsungen AG
  • Coloplast Corp.
  • Teleflex Incorporated
  • Bactiguard
  • Cook Medical
  • Medline Industries
  • SunMed
  • Wellspect HealthCare AB

Pricing

Available upon Request

Key Segments Covered

  • Type

    • 2-way Foley Catheters
    • 3-way Foley Catheters
    • 4-way Foley Catheters
  • Material

    • Latex Foley Catheters
    • Silicone Foley Catheters
  • End User

    • Hospitals
    • Ambulatory Surgery Centers
    • Long-term Care Centers
    • Others

Foley Catheters Market- Scope of Report

A recent study by Fact.MR on the foley catheters market offers a 10-year forecast for 2021 to 2031. The study analyzes crucial trends that are currently determining the growth of the market. This report explicates on vital dynamics, such as the drivers, restraints, and opportunities for key market players along with key stakeholders as well as emerging players associated with offering foley catheters.

The study also provides the dynamics responsible for influencing the future status of the foley catheters market over the forecast period. A detailed assessment of value chain analysis, business execution, and supply chain analysis across regional markets has been covered in the report.

A list of prominent companies operating in the foley catheters market, along with their product portfolios, enhances the reliability of this comprehensive research study.

Report Summary

The study offers comprehensive analysis on diverse features, including production capacities, demand, product developments, revenue generation, and sales of foley catheters across the globe.

A comprehensive estimate on the market has been provided through an optimistic as well as a conservative scenario, taking into account the sales of foley catheters during the forecast period. Price point comparison by region with global average price is also considered in the study.

Key Questions Answered in Report

  • Which are the most lucrative foley catheters markets?
  • Which factors will impact the growth of foley catheters?
  • How will changing trends impact the strategies of market players?
  • How can market players capture the low-hanging opportunities across regions?
  • Which companies are leading the foley catheters industry?
  • What are the winning strategies of stakeholders in the market?

Analysis on Market Size Evaluation

The market has been analyzed for each segment in terms of volume (‘000 Units) and value (US$ Mn).

Estimates at global and regional levels for foley catheters are available in terms of “US$ Mn” for value and in “‘000 Units” for volume. A Y-o-Y growth contrast on prominent market segments, along with market attractiveness evaluation, has been incorporated in the report. Furthermore, absolute dollar opportunity analysis of all the segments adds prominence to the report.

Absolute dollar opportunity plays a crucial role in assessing the level of opportunity that a manufacturer/distributor can look to achieve, along with identifying potential resources, considering the sales and distribution perspective in the global foley catheters market.

Inspected Assessment on Regional Segments

Key sections have been elaborated in the report, which have helped deliver projections on regional markets. These chapters include regional macros (political, economic, and business environment outlook), which are expected to have a momentous influence on the growth of the foley catheters during the forecast period

Country-specific valuation on demand for foley catheters has been offered for each region, along with market scope estimates and forecasts, price index, and impact analysis of the dynamics of prominence in regions and countries. For all regional markets, Y-o-Y growth estimates have also been incorporated in the report.

Detailed breakup in terms of value & volume for emerging countries has also been included in the report.

In-depth Analysis on Competition Analysis

The report sheds light on leading manufacturers of foley catheters, along with their detailed profiles. Essential and up-to-date data related to market performers who are principally engaged in offering foley catheters has been brought with the help of a detailed dashboard view. Market share analysis and comparison of prominent players provided in the report permits report readers to take preemptive steps in advancing their businesses.

Company profiles have been included in the report, which include essentials such as product portfolios and key strategies, along with all-inclusive SWOT analysis on each player. Company presence is mapped and presented through a matrix for all the prominent players, thus providing readers with actionable insights, which helps in thoughtfully presenting the market status, and predicting the competition level in the foley catheters domain. 

Research Methodology

In Fact.MR’s study, a unique research methodology is utilized to conduct extensive research on the growth of the foley catheters industry, and reach conclusions on the future growth parameters. This research methodology is a combination of primary and secondary research, which helps analysts ensure the accuracy and reliability of the drawn conclusions.

Secondary resources referred to by analysts during the preparation of the market study include statistics from governmental organizations, trade journals, white papers, and internal and external proprietary databases. Analysts have interviewed senior managers, product portfolio managers, CEOs, VPs, marketing/product managers, and market intelligence managers, all of whom have contributed to the development of the research report as a primary resource.

- FAQs -

As of 2020, sales of foley catheters were valued at US$ 4 Bn according to Fact.MR

From 2016 to 2020, the global foley catheters market surged at around 5% CAGR

By 2031, Fact.MR expects the foley catheters landscape to reach US$ 7.1 Bn

From 2021 to 2031, foley catheters demand is likely to swell at a CAGR of 5.9% to expand 1.7x

Increased prevalence of urological disorders is majorly driving market growth for foley catheters

Foley catheters sales in the U.S are expected to reach US$ 726 Mn by 2031

Asia is anticipated to showcase a remarkable 6.8% CAGR in its demand for foley catheters until 2031

2-way foley catheters are expected to remain on top, capturing 3/4th of the market value

Foley catheters made from latex are expected to remain preferred, capturing over 90% of the revenue by 2031

Becton, Dickinson and Company, Cardinal Health, B. Braun Melsungen AG, and Coloplast Corp. are some prominent foley catheters manufacturers

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Is the market research conducted by Fact.MR?

Yes, the report has been compiled by expert analysts of Fact.MR, through a combination of primary and secondary research. To know more about how the research was conducted, you can speak to a research analyst.

What research methodology is followed by Fact.MR?

Fact.MR follows a methodology that encompasses the demand-side assessment of the market, and triangulates the same through a supply-side analysis. This methodology is based on the use of standard market structure, methods, and definitions.

What are the sources of secondary research?

Fact.MR conducts extensive secondary research through proprietary databases, paid databases, and information available in the public domain. We refer to industry associations, company press releases, annual reports, investor presentations, and research papers. More information about desk research is available upon request.

Who are the respondents for primary research?

Fact.MR speaks to stakeholders across the spectrum, including C-level executives, distributors, product manufacturers, and industry experts. For a full list of primary respondents, please reach out to us.

Is a sample of this report available for evaluation?

Yes, you can request a sample, and it will be sent to you through an email.